Brokerages Set Middleby Corp (NASDAQ:MIDD) Target Price at $95.25

Shares of Middleby Corp (NASDAQ:MIDD) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $94.20.

MIDD has been the topic of several research reports. Citigroup upped their price objective on shares of Middleby from $64.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. CL King assumed coverage on shares of Middleby in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $86.00 price objective on the stock. KeyCorp upgraded shares of Middleby from a “sector weight” rating to an “overweight” rating and set a $90.00 price target on the stock in a research note on Monday. They noted that the move was a valuation call. BidaskClub upgraded shares of Middleby from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, ValuEngine upgraded shares of Middleby from a “sell” rating to a “hold” rating in a research note on Monday, June 1st.

In other news, Director Robert A. Nerbonne acquired 1,670 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $61.06 per share, with a total value of $101,970.20. Following the acquisition, the director now owns 2,443 shares in the company, valued at $149,169.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert A. Nerbonne acquired 1,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $56.76 per share, with a total value of $99,330.00. In the last 90 days, insiders have bought 7,660 shares of company stock worth $495,723. 1.98% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Middleby by 11.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 190,653 shares of the industrial products company’s stock worth $20,851,000 after buying an additional 19,140 shares during the period. Geode Capital Management LLC boosted its holdings in Middleby by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 641,800 shares of the industrial products company’s stock valued at $36,473,000 after purchasing an additional 14,216 shares during the period. Tobam bought a new stake in Middleby in the 1st quarter valued at $2,067,000. Man Group plc boosted its holdings in Middleby by 26.7% in the 4th quarter. Man Group plc now owns 20,627 shares of the industrial products company’s stock valued at $2,259,000 after purchasing an additional 4,352 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in Middleby by 32.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 20,967 shares of the industrial products company’s stock valued at $1,193,000 after purchasing an additional 5,180 shares during the period. 96.34% of the stock is owned by institutional investors and hedge funds.

Middleby stock traded up $6.95 during trading hours on Tuesday, hitting $79.93. The company had a trading volume of 1,472,000 shares, compared to its average volume of 1,241,998. The firm has a market capitalization of $4.06 billion, a P/E ratio of 12.45 and a beta of 1.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.48 and a quick ratio of 1.46. The firm’s fifty day moving average is $72.22 and its 200-day moving average is $85.03. Middleby has a fifty-two week low of $41.73 and a fifty-two week high of $142.98.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.07. The firm had revenue of $677.50 million for the quarter, compared to analyst estimates of $677.37 million. Middleby had a net margin of 12.10% and a return on equity of 20.40%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 EPS. Analysts anticipate that Middleby will post 3.93 earnings per share for the current year.

Middleby Company Profile

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Analyst Recommendations for Middleby (NASDAQ:MIDD)

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